Question about POS protocols and securities

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Question about POS protocols and securities

I'm sure we all saw Gary Gensler claim that POS protocols are securities last September and double down on it a couple days ago.

His main claim is that POS is advertised as a way for people to make money, which is true, but with standard securities you're not providing a service in order to earn your profit.

I see staking on a protocol similar to paying your partner dues at a law firm. You are financially committing to providing a service and maintaining the overall integrity of the firm (or protocol).

Can someone explain what I'm missing? What is the basis of his claim that they're securities if people are being compensated for contributions to the network rather than the investment passively gaining value over time like a standard security?

TYIA!

submitted by /u/tombradysballz6
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